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Ian Lundin Chairman of the Board
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For more information please contact

Edward Westropp, Vice President Investor Relations

Tel: +41 22 595 10 14

edward.westropp@lundin-energy.com

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All of our barrels are certified as carbon neutrally produced

All of our net production from Johan Sverdrup is certified as carbon neutrally produced by Intertek Group plc (Intertek) under the CarbonZeroTM standard. The field is the second in Norway (the first being the Edvard Grieg field) to have its full life of field emissions independently certified by Intertek, under its CarbonClearTM standard, at 0.45 kg CO2e per boe, one of the lowest carbon intensities in the world.

To supply a fully carbon neutrally produced barrel, residual emissions are neutralised through high quality, natural carbon capture projects, certified by the Verified Carbon Standard (VCS)1. As a result, from June 2021, no net carbon emissions are released to the atmosphere during the production of Lundin Energy’s Johan Sverdrup barrels.

Financial data from continuing operations MUSD 2020 2019 2018 2017 2016
Revenue and other income <sup>1</sup> 2,564.4 2,948.7 2,640.7 1,997.0 950.0
Operating cash flow ¹ 1,657.6 1,537.1 1,864.1 1,530.0 857.9
CFFO 1,528.0 1,378.2 1,718.3 1,299.3 668.7
EBITDAX ¹ 2,140.2 1,918.4 1,932.5 1,501.5 752.5
Free cash flow 448.2 1,271.7 663,0 203.7 -328.2
Net result 384.2 824.9 225.7 380.9 -399.3
Adjusted net result 280.0 252.7 295.3 156.5 28.6
Net debt 3,911.5 4,006.7 3,398.2 3,883.6 4,075.5

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Excludes the reported after tax accounting gain of MUSD 756.7 in 2019 on the divestment of a 2.6 percent working interest in the Johan Sverdrup project and excludes the reported after tax accounting loss of MUSD 14.4 in 2017 on the divestment of a 39 percent working interest in the Brynhild field.
Dividend per share represents the actual paid out dividend per share.
Share price at period end in USD is calculated based on quoted share price in SEK and applicable SEK/USD exchange rate as per period end.
As the equity at 31 December 2020, 31 December 2019, 31 December 2018, 31 December 2017 and 31 December 2016 is negative, these ratios have not been calculated.